Paying for College

The College Goal Sunday event offers parents and students FREE expert help in completing the Free Application for Federal Student Aid (FAFSA). The event is scheduled in February and is offered at 36 different locations across the state. Flyers are available each year in the Student Services office. Visit for more information.

Loan Information
Federal student loans are cheaper, more available and have better repayment terms than private student loans.

Federal Perkins Loan
Awarded based on exceptional need. Interest is subsidized and fixed at 5%. No fees. Favorable benefits may be lost upon consolidation. Repayment begins nine months after graduation or dropping below half-time enrollment status.

Federal Stafford Loan
Subsidized - Interest accrues with graduation for loans made in 2012-13 and 2013-14. Repayment begins six months after graduation. Fixed interest rate is 3.4% if loan originated on/after July 1, 2011 for undergraduate students. 1% fees.

Unsubsidized - Interest accrues during school. Fixed interest rate is 6.8% if loan originated on/after July 1, 2006. 1% fees. On loans first distributed on or after July 1, 2009, annual limits have increased by $2,000 for independent and dependent undergrads. Repayment begins six months after graduation or after dropping below half-time enrollment status.

Federal Parent PLUS Loan
If loan originated on/after July 1, 2006: Direct PLUS fixed interest rate is 7.9% with 4% fees. Repayment begins 60 days after full disbursement, or six months after student graduates or drops below half-time. Interest continues to accrue during deferment.

Federal Consolidation Loan
Combine loans to one lender. Fixed interest rate is the weighted average of the loans rounded up to the nearest 1/8 of a % and capped at 8.25%.

Private/Alternative Loan
Eligibility, interest rate and fees based on better of borrower and cosigner credit scores. More expensive than Federal student loans. For more information on private or alternative loans, visit: